MONTGOMERY — When Joseph Fallon founded The ELM Group, an environmental consultancy group here, he envisioned an environment that would cushion employees from a “culture of burnout.”

“I wanted to create a company that benefitted employees,” he said of the firm, which specializes in investigative and remediation work.

Fallon, who is stepping down from ownership of the company he founded 23 years ago, believes he has achieved that objective.

Earlier this week the company announced a management buyout allowing Fallon to step down from managing the company. Terms were not disclosed.

Fallon formed the environmental consulting firm in 1989 after completing a stint with the Department of Environmental Protection. Since then, the company expanded into many different areas, including weapons restoration work, risk assessments, civil and site engineering services, recycling, and the Superfund cleanup of hazardous waste sites. The company also offers planning to protect natural resources during construction.

Fallon said he is especially proud of the awards ELM Group has won for Brownfield redevelopment projects.

He said he is feeling a bit nostalgic about things, such as “signing my last check as president.” But he is happy to turn the reins over to the “new blood” of the company.

He said the buyout is part of a long-term transitional plan to provide opportunities for key employees in the company.

“It is time for them to take over and run the company in the direction as they see fit,” he said.

Company principals Marc Fisher and Peter Brussock have each assumed the role of managing partner.

Fisher said Fallon’s decision to allow him and Brussock to become owners will allow the company to grow without the threat of being bought and dismantled by a bigger group.